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Hacker steals over $4.3 million in crypto from Solana-based blockchain Raydium

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A hacker recently gained unauthorized access to the Solana-based automated market maker (AMM) called Raydium, stealing more than $4.3 million worth of cryptocurrency.

Raydium announced the hack on Twitter and is working with third-party auditors and Solana teams to gather more information about the incident.

The company implemented a patch to prevent further exploitation by the hacker and revoked the previous owner’s authority.

The hacker siphoned funds from five different pools, including stablecoins and other crypto assets.

In response, Raydium offered a white-hat bug bounty of 10% of the stolen funds if the hacker returns them and encouraged the individual to contact them through normal channels or through a specific address.

Raydium’s native token value has decreased almost 15% in the past 24 hours.

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